Opthea Ltd — Major Shareholding Notification 2022

Jun 21, 2022

Form 605

Corporations Act Section 671B

Notice of ceasing to be a substantial holder

To: Company Name/Scheme OPTHEA LIMITED ACN/ ~~ARSN~~ 006 340 567

1. Details of substantial holder (1)

Name Bank of America Corporation and its related bodies corporate (See Appendix C)

ACN/ARSN (if applicable):

The holder ceased to be a substantial shareholder on

20 June 2022

The previous notice was given to the company on

The previous notice was dated

7 June 2022 3 June 2022

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of Person whose Nature of Change (4) Consideration Class (6) and Person’s votes change relevant interest given in relation Number of affected changed to change (5) securities affected See Appendix A

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
N/A	N/A

4. Addresses

The addresses of persons named in this form are as follows:

Name	Addresses
Bank of America Corporation	100 North Tryon Street, Charlotte, North Carolina, 28255, USA
Merrill Lynch (Australia) Futures Limited	Level 34, Governor Phillip Tower, 1 Farrer Place, Sydney NSW 2000,Australia
Merrill Lynch Markets (Australia) Pty. Limited	Level 34, Governor Phillip Tower, 1 Farrer Place, Sydney NSW 2000,Australia
Merrill Lynch International	2 King Edward Street, London, England, EC1A 1HQ, United Kingdom
BofA Securities, Inc.	One Bryant Park, New York NY 10036, USA

SIGNATURE

Print Name: Sign Here:	Kelvin Kwok Capacity: Authorised signatory
	Date: 22 June 2022

Appendix A

Date of change	Person whose relevant interest changed	Nature of change (4)	Consideration (5)	Class (6) of securities	Securities affected	Person's votes affected	Remark
06/06/2022	Merrill Lynch (Australia) Futures Limited	BUY	3,906	Ordinary	3,125	3,125	N/A
06/06/2022	Merrill Lynch(Australia)FuturesLimited	SELL	(2,036)	Ordinary	(1,629)	(1,629)	N/A
06/06/2022	Merrill Lynch Markets (Australia) Pty. Limited	Securities returned	N/A	Ordinary	(9,179)	(9,179)	RefertoApp. B
06/06/2022	Merrill Lynch Markets (Australia) Pty. Limited	Securities returned	N/A	Ordinary	(10,769)	(10,769)	Refer to App. B
06/06/2022	Merrill Lynch International	Securities borrowed	N/A	American Depository Shares	873,681	6,989,448	RefertoApp. B
06/06/2022	Merrill Lynch International	Securities returned	N/A	American Depository Shares	(4,717)	(37,736)	RefertoApp. B
06/06/2022	Merrill Lynch International	Securities returned	N/A	American Depository Shares	(294,684)	(2,357,472)	RefertoApp. B
06/06/2022	Merrill Lynch International	Securities returned	N/A	American Depository Shares	(578,997)	(4,631,976)	RefertoApp. B
06/07/2022	Merrill Lynch(Australia)FuturesLimited	SELL	(1,114)	Ordinary	(946)	(946)	N/A
06/07/2022	Merrill Lynch(Australia)FuturesLimited	SELL	(668)	Ordinary	(550)	(550)	N/A
06/07/2022	Merrill Lynch International	Securities returned	N/A	American Depository Shares	(4,717)	(37,736)	Refer to App. B
06/08/2022	Merrill Lynch(Australia)FuturesLimited	BUY	1,310	Ordinary	1,087	1,087	N/A
06/08/2022	Merrill Lynch(Australia)FuturesLimited	SELL	(5,127)	Ordinary	(4,345)	(4,345)	N/A
06/08/2022	Merrill Lynch(Australia)FuturesLimited	BUY	3,893	Ordinary	3,258	3,258	N/A
06/08/2022	Merrill Lynch Markets (Australia) Pty. Limited	Securities returned	N/A	Ordinary	(79,407)	(79,407)	Refer to App. B
06/08/2022	Merrill Lynch Markets (Australia) Pty. Limited	Securities returned	N/A	Ordinary	(616)	(616)	RefertoApp. B
06/08/2022	Merrill Lynch International	Securities returned	N/A	American Depository Shares	(251,672)	(2,013,376)	RefertoApp. B
06/09/2022	Merrill Lynch International	Securities returned	N/A	American Depository Shares	(100,937)	(807,496)	RefertoApp. B
06/10/2022	Merrill Lynch(Australia)FuturesLimited	SELL	(1,645)	Ordinary	(1,495)	(1,495)	N/A
06/10/2022	Merrill Lynch(Australia)FuturesLimited	BUY	2,358	Ordinary	2,144	2,144	N/A
06/10/2022	Merrill Lynch International	Securities returned	N/A	American Depository Shares	(4,717)	(37,736)	RefertoApp. B
06/13/2022	Merrill Lynch International	Securities borrowed	N/A	American Depository Shares	198,867	1,590,936	Refer to App. B
06/14/2022	Merrill Lynch(Australia)FuturesLimited	SELL	(857)	Ordinary	(811)	(811)	N/A

Date of change	Person whose relevant interest changed	Nature of change (4)	Consideration (5)	Class (6) of securities	Securities affected	Person's votes affected	Remark
06/14/2022	Merrill Lynch (Australia) Futures Limited	SELL	(604)	Ordinary	(567)	(567)	N/A
06/14/2022	Merrill Lynch(Australia)FuturesLimited	BUY	784	Ordinary	750	750	N/A
06/14/2022	Merrill Lynch(Australia)FuturesLimited	SELL	(22)	Ordinary	(21)	(21)	N/A
06/14/2022	Merrill Lynch International	Securities returned	N/A	American Depository Shares	(198,867)	(1,590,936)	RefertoApp. B
06/14/2022	Merrill Lynch International	Securities borrowed	N/A	American Depository Shares	705,788	5,646,304	RefertoApp. B
06/14/2022	Merrill Lynch International	Securities borrowed	N/A	American Depository Shares	563,375	4,507,000	RefertoApp. B
06/14/2022	Merrill Lynch International	Securities returned	N/A	American Depository Shares	(506,921)	(4,055,368)	RefertoApp. B
06/15/2022	Merrill Lynch(Australia)FuturesLimited	SELL	(1,197)	Ordinary	(1,108)	(1,108)	N/A
06/15/2022	Merrill Lynch (Australia) Futures Limited	BUY	1,440	Ordinary	1,412	1,412	N/A
06/15/2022	Merrill Lynch(Australia)FuturesLimited	SELL	(324)	Ordinary	(304)	(304)	N/A
06/15/2022	Merrill Lynch International	Securities returned	N/A	American Depository Shares	(563,375)	(4,507,000)	RefertoApp. B
06/15/2022	Merrill Lynch International	Securities borrowed	N/A	American Depository Shares	1,269,163	10,153,304	Refer to App. B
06/15/2022	Merrill Lynch International	Securities returned	N/A	American Depository Shares	(705,788)	(5,646,304)	RefertoApp. B
06/15/2022	Merrill Lynch International	Securities returned	N/A	American Depository Shares	(164,279)	(1,314,232)	RefertoApp. B
06/16/2022	Merrill Lynch (Australia) Futures Limited	SELL	(3,803)	Ordinary	(3,588)	(3,588)	N/A
06/16/2022	Merrill Lynch(Australia)FuturesLimited	BUY	3,803	Ordinary	3,588	3,588	N/A
06/16/2022	Merrill Lynch(Australia)FuturesLimited	SELL	(9,394)	Ordinary	(8,862)	(8,862)	N/A
06/16/2022	Merrill Lynch(Australia)FuturesLimited	BUY	8,879	Ordinary	8,371	8,371	N/A
06/16/2022	Merrill Lynch(Australia)FuturesLimited	SELL	(513)	Ordinary	(491)	(491)	N/A
06/16/2022	Merrill Lynch(Australia)FuturesLimited	BUY	1,029	Ordinary	982	982	N/A
06/16/2022	Merrill Lynch International	Securities returned	N/A	American Depository Shares	(4,717)	(37,736)	Refer to App. B
06/17/2022	Merrill Lynch(Australia)FuturesLimited	BUY	2,647	Ordinary	2,545	2,545	N/A
06/17/2022	Merrill Lynch(Australia)FuturesLimited	SELL	(2,647)	Ordinary	(2,545)	(2,545)	N/A
06/17/2022	Merrill Lynch International	Securities returned	N/A	American Depository Shares	(216,833)	(1,734,664)	RefertoApp. B
06/17/2022	BofASecurities,Inc.	Securities borrowed	N/A	American Depository Shares	200	1,600	RefertoApp. B
06/20/2022	Merrill Lynch International	Securities returned	N/A	American Depository Shares	(883,334)	(7,066,672)	RefertoApp. B

Appendix B-1: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty Limited and Susquehanna Pacific Pty Ltd
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix B-2: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty Limited and Amazon Market Neutral Fund (GCM)
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix B-3: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty Limited and Zambezi Absolute Return Fund (GCM)
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix B-4: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty Limited and Regal Funds Management Pty Limited as Trustee of Tasman Market Neutral Fund
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix B-5: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty Limited and Regal Funds Management Pty Limited as Trustee of Regal Australian Long Short Equity Fund
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix B-6: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty Limited and Regal Funds Management Pty Limited as Trustee of Atlantic Absolute Return Fund
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix B-7: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty Limited and Equity Trustees Limited As Trustee And Responsible Entity Of Regal InvestmentFund
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix B-8: Prescribed information

Type of agreement	Securities Lending Agreement
Parties to agreement	BofA Securities, Inc. and PERSHING LLC
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix C

Appendix C
Related bodies corporate	Incorporated	**ACN/Registration/Incorporation Number **
Merrill Lynch International	United Kingdom	2312079
ML UK Capital Holdings Limited	United Kingdom	4971231
BofAML EMEA Holdings 2 Limited	United States	119605
Merrill Lynch (Australia) Futures Limited	Australia	003639674
Merrill Lynch Markets (Australia)Pty. Limited	Australia	075587816
Merrill Lynch (Australasia) Pty. Ltd	Australia	075923894
Bank of America Global Holdings, LLC	United States	5169939
BofAML Jersey Holdings Limited	Jersey	115831
BofA Securities, Inc.	United States	5793661
NB Holdings Corporation	United States	2361372
Bank of America Corporation	United States	N/A628